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The front end of the Sonia curve is flatter...>

SONIA
SONIA: The front end of the Sonia curve is flatter in early Tuesday morning
trading compared to Friday's close as markets catch up following August Bank
Holiday and react to overnight news of N.Korea firing a missile over Japan,
which has lead to risk-off flows. While in Brussels the 3rd round of Brexit
talks have got off to a intense start with the EU warning Britain to take the
talks seriously. MNI PINCH now see markets pricing a 40% chance of a 25bp rate
hike in Feb 2018, down from 47% on Friday and the following levels in BoE
forward dated Sonia:-
- Sep-17 0.3bp lower at 0.215%
- Nov-17 0.5bp lower at 0.270%
- Dec-17 0.9bp lower at 0.269%
- Feb-18 1.4bp lower at 0.316%
- Mar-18 1.5bp lower at 0.307%
- May-18 1.3bp lower at 0.352%
- Jun-18 1.2bp lower at 0.355%
- Aug-18 1.4bp lower at 0.380%

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